GATX unit will lease railcars in India

GATX Corp. announced Tuesday that its subsidiary, GATX India Private Limited (GIPL), has entered the Indian marketplace with the purchase of 450 container flat cars.

GIPL will lease the cars to Arshiya Rail Infrastructure Ltd., a subsidiary of Arshiya International Ltd., for 10 years.

"We are pleased to be the first leasing company registered under Indian Railways' Wagon Leasing Scheme," said Brian A. Kenney, president and CEO of GATX. "We believe rail wagon leasing in India will provide an attractive growth opportunity for GATX, and we are honored to enter this market with Arshiya Rail Infrastructure, one of India's leading and pioneering container train operators."